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Betfair Submits Proposal To US NHBPA

Friday, 29th April 2011

Betfair "began the process of clearing another hurdle toward making exchange wagering a reality in the US when it met with the National Horsemen's Benevolent & Protective Association and proposed a revenue model based on the wagering type" reported thoroughbredtimes.com. Stephen Burn, director of horseracing for Betfair & chief executive officer of Television Games Network (which Betfair acquired in January 2009) said he was "encouraged by the 1st discussion of a revenue split" but would not divulge details of the proposal, noting: "This is the 1st time we've put numbers out in front of a group for public discussion. These are not take-or-leave numbers, though. We're coming to the market with ideas & we'll see where it goes." NHBPA chief executive Remi Bellocq added: "They understand our concerns & really our concerns are racing's concerns. Our standard operating procedure is we'll sit down with core group of folks, listen & evaluate. We agree that exchange wagering can provide customers an exciting opportunity, but the question is whether Betfair's way is the best approach."

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